'My Shares In BharatPe Worth ₹1,800 Cr Are Mine', Says Ashneer Grover After Delhi HC Verdict; Deletes Post Moments After Publishing

Ashneer Grover, an Indian entrepreneur known for his contributions to the startup sector and served as the former co-founder and managing director (MD) of BharatPe, took to his social media platform X (formerly Twitter) to share the news of yet another courtroom success. Celebrating the win, Grover expressed his happiness over the Hon’ble Justice Sachin Datta’s judgment in his favor, which had been upheld in appeal against Shashvat Nakrani, the opposing party.

Taking on X, Grover posted, "Another day - Another WIN in Court ! Nothing hits you like SUCCESS !! My shares in BharatPe worth ₹1,800 crores are mine."

"So happy Hon’ble Justice Sachin Datta’s judgement in MY favour has been upheld again in appeal by opposite party (Shashvat Nakrani). Saw the hearing. Again indebted to the Hon’ble High Court bench," he continued.

"Reasons for judgements coming in my favour - 1) Truth and facts on your side, 2) Conduct befitting the facts, 3) Patience and 4) Giri Subramaniam - hot shot lawyer with conviction and confidence to hold his own against formidable senior lawyers like Mr. Rohatgi . What fun !," he added.

Grover Deletes Social Media Post Moments After Publishing

Shortly after posting on his social media platform X, Grover deleted the content within a few minutes.

He attributed his success to a combination of truth, proper conduct, patience, and the expertise of his legal representative, Giri Subramaniam. Grover also shared his appreciation for Subramaniam's skills, highlighting his ability to hold his ground against formidable senior lawyers, such as Rohatgi.

About the case

The Delhi High Court on Thursday dismissed Shashvat Nakrani's appeal against a single judge bench's order, which declined to grant a restraining order against BharatPe's former MD, Ashneer Grover. The case revolves around allegations of unpaid shares.

During the hearing, both parties agreed to expedite the trial by directing the single judge bench to frame the issues on February 28. The single judge had earlier clarified Grover's obligation to inform Nakrani before transferring shares. Representing Nakrani, Neeraj Kishan Kaul cited a similar case involving co-founder Bhavik Koladiya, where the court directed Grover not to create third-party rights.

Grover's counsel, Giriraj Subramanium, refrained from making a statement about third-party rights. The court noted the extensive hearing and continuation of the case despite the defendant's decision not to respond. Koladiya's suit to reclaim shares is pending before another Bench. In a previous order, Grover committed not to create third-party interests in the shares transferred by Koladiya, subject to the court's directions.

Grover BharatPe Resign

Ashneer Grover, on February 28, 2022, tendered his resignation as the Managing Director of BharatPe and stepped down his role on the board of directors. This decision came in the wake of the circulation of the agenda for the forthcoming Board meeting, focusing on the submission and discussion of the PWC report detailing his conduct and the subsequent actions to be taken based on the report's findings.